Vientiane virtual currency

1.

Luohu's Mixc, China Resources Vanguard, Meiyijia convenience store, Tianhong Department store, Maoye department store and other supermarket department stores; Noodle King, Taixing restaurant, food first and other restaurants; digital currency can be used in Junyue Hotel, Shenzhen book city, huaguoxian, gas station, subway recharge machine and other living service places

there are 3389 merchants in Luohu District of Shenzhen who have completed the transformation of digital RMB system, and they can use digital currency in these shops

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advantages of digital currency:

1. Save cost and improve efficiency

in the traditional electronic payment process, funds are stored in the third-party platform. The third-party platform deposits funds through the time difference of payment to obtain short-term interest income, which makes customers and businesses suffer losses, and the transaction process has two capital transfers, which makes the transaction process rendant. Electronic payment based on blockchain technology eliminates the third-party platform and realizes peer-to-peer payment (P2P), which simplifies the payment process and reces the payment cost

2. Optimize the traditional payment function

digital currency can inherit the advantages of cash payment (point-to-point payment, instant payment and settlement, convenient and fast), and solve the defects of cash at the same time. In this condition, controllable anonymity can be realized at the same time. That is to say, compared with traditional mobile payment, digital signature is used to effectively protect the personal information of each participant, so as to prevent the loss, leakage or malicious tampering of the user's personal information

3. Control the whole life cycle of currency and control the return of currency

The economist Stiglitz studies the macroeconomic management of e-money system, and points out that the electronization and digitalization of money will help to improve the ability of central bank to monitor money flow and organize market, and improve the effectiveness of monetary policy. More importantly, legal digital currency will create a new price based monetary policy tool, which can break the zero interest rate lower limit and release monetary policy space

Digital currency does not rely on physical outlets and labor services, and has low cost of infrastructure and human resources. It can obtain a larger service capacity with less material and human input, which is concive to the expansion of financial services in remote and poor areas. Moreover, financial services based on digital currency have the characteristics of small amount and convenience, such as "massive transactions, small and micro single amount", which create conditions for the general public to facilitate life and increase employment

2.

Vientiane digital trading platform is illegal

on September 13, 2017, the China Internet Finance Association issued the "tips on preventing the risks of bitcoin and other so-called" virtual currency ", saying that the hidden financial and social risks of" virtual currency "formed by the exchanges on the Internet platform can not be ignored, pointing out that bitcoin and other so-called" virtual currency "are increasingly becoming the focus of money laundering, drug trafficking, smuggling Illegal fund-raising and other illegal and criminal activities

according to the tip of China Mutual Fund Association, there is no legal basis for the establishment of all kinds of so-called "currency" trading platforms in China, calling on all member units to fulfill the commitment of the instry self-discipline convention, strictly abide by national laws and regulations, and not participate in any centralized transactions related to the so-called "virtual currency" or provide services for such transactions, Actively resist any illegal financial activities

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bitcoin and other so-called "virtual currencies" lack a clear value basis, the market speculative atmosphere is strong, the price fluctuates violently, investors blindly follow the trend of speculation, easy to cause capital losses, investors need to strengthen risk prevention awareness

it is worth noting that bitcoin and other so-called "virtual currencies" are increasingly becoming tools for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities. Investors should keep vigilant and report to the police immediately when they find clues of illegal and criminal activities

investors participate in speculation through bitcoin and other so-called "virtual currency" trading platforms, and face the risk of price fluctuation, security risk, etc., and the platform technology risk is also high. There have been a number of international trading platforms hacked and stolen, and investors have to bear the investment risk on their own

criminals also often use the trading platform to obtain the so-called "virtual currency" to engage in related illegal activities, which has great legal risks. Recently, a large number of trading platforms have been stopped by the regulatory authorities for supporting token issuance financing (ICO). There is no legal basis for the establishment of various so-called "currency" trading platforms in China

source of reference: chinanews.com-bitcoin and other virtual currencies have become criminal tools for money laundering and illegal fund-raising